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Story summary
- Howard Marks, co-founder of Oaktree Capital Management, warned that artificial intelligence could trigger significant job losses and deepen social division.
- He said a few wealthy individuals could dominate the technology landscape, intensifying populist sentiments.
- Microsoft and Amazon are taking on debt in a competitive AI environment, with over $161 billion in U.S. credit deals.
- Marks questioned the prudence of long-term AI investments amid unpredictable demand.
